The Property Practitioners Regulatory Authority (PPRA) has been denying Fidelity Fund Certificates (FFCs) to property practitioners based on BEE status since at least April 2024, preventing them from legally operating.

Sakeliga has demanded the PPRA provide a written undertaking to withdraw and reverse the policy, prompted by recent reports of a temporary hold by the PPRA.

The PPRA has not officially changed its position and is ignoring demands to publicly withdraw the policy, reopen denied FFC applications, and commit to avoiding similar BEE-based restrictions in the future.

Sakeliga has obtained a punitive costs order against the Minister of Cooperative Governance and Traditional Affairs (COGTA) and the North West Government.

The court found that they were “trying to circumvent their constitutional duty” and that their opposition to Sakeliga was “totally unnecessary.”

President Cyril Ramaphosa’s enactment on 23 July 2024 of three new pieces of legislation poses grave threats to the economic environment.

Once implementation by the multi-party government starts, the Public Procurement Act, National Small Enterprise Amendment Act, and Climate Change Act will increase the cost of doing business in South Africa while accelerating state failure.

Each is potentially harmful on its own and all add to an ominous series of legislative threats along with the recently signed NHI Act, employment equity regulations, and third-wave BEE directives.